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IBOR reform: IASB discusses remaining phase two issues
At its February meeting, the IASB completed discussions on phase two of its project to amend IFRS in response to the financial reporting challenges posed by IBOR reform.
The IASB completed phase one with publication, in September 2019, of Interest Rate Benchmark Reform, Amendments to IFRS 9, IAS 39 and IFRS 7. The IASB started considering the phase two issues in October and continued its deliberations at its meetings in December 2019 and January 2020. With the tentative decisions reached in February 2020, the IASB has now discussed all the phase two issues and the staff are proceeding to produce the Exposure Draft (ED), which is expected to be published in April 2020, with a forty-five day comment period.